Shriram Life Accident Benefit Rider
What is Shriram Life Accident Benefit Rider?
If you want added protection against accidental emergencies, the Shriram Life Accident Benefit Rider (UIN: 128B001V04) can come to your aid. It is a non-linked and non-participating rider that allows additional coverage.
- Buy the Shriram Life Accident Benefit Rider with your base plan
- Low-cost premium payments
- Financial protection against accidental death and disability
- Long coverage duration
- Lump sum benefit in claims
- Premium waiver in disability
Policy Type
Shriram Life Accident Benefit Rider by Shriram Life Insurance
Policy Tenure
Minimum:
Regular & Limited Pay: 2 Years,
Single Pay: 3 Years
Maximum: 52 years
Minimum Premium Payment
Depends on age and coverage details
Maximum Maturity Age
70 years (age last birthday)
Features and Benefits of Shriram Life Accident Benefit Rider
Coverage for Accidental Death
Get coverage against sudden demise. The rider sum assured is paid in a lump sum in such contingencies.
Coverage for Permanent Disability
Permanent total disability suffered in an accident is covered under the Shriram Life Accident Benefit Rider.
Low Premium Payments
The Shriram Life Accident Benefit Rider is available at low and affordable premium payments, so you can get more coverage at lesser rates.
High Coverage
The Shriram Life Accident Benefit Rider allows a sum assured going up to ₹50 lakhs.
Easy to Avail
You can buy the Shriram Life Accident Benefit Rider either at the time of buying the base plan or any policy anniversary.
Premium Waiver Benefit
The future premium payments are waived if there is a disability claim under the Shriram Life Accident Benefit Rider.
Eligibility Criteria for Shriram Life Accident Benefit Rider
Age Criteria | Entry Minimum: 18 years (age last birthday) Maximum: 65 years (age last birthday) |
|---|---|
Maximum Maturity | Age 70 years (age last birthday) |
Policy Tenure | Minimum: Regular & Limited Pay: 2 Years, Single Pay: 3 Years |
Premium Paying Term | Regular Pay - Equal to policy tenure Limited Pay - 1 years to 51 years Single Pay - Once |
Premium Payment Mode | Single, Annual, Half-yearly, Quarterly or Monthly |
Sum Assured | Minimum: ₹ 50,000 Maximum: ₹ 50,00,000 |
What Does the Shriram Life Accident Benefit Rider Cover?
The Shriram Life Accident Benefit Rider covers the risk of accidental demise or permanent total disability suffered in an accident. In either of these claims, the rider coverage is paid in a lump sum. In the case of disability claims, future premium payments are also waived. However, if the rider matures and there is no claim, no maturity benefit is paid under the Shriram Life Accident Benefit Rider.
What Does the Shriram Life Accident Benefit Rider Not Cover?
Natural or illness-related demises are not covered under the Shriram Life Accident Benefit Rider. Additionally, if the life insured passes away or becomes disabled due to suicide, war, pre-existing illnesses, hazardous or criminal activities, etc., such claims will not be covered.
Download Documents for Shriram Life Accident Benefit Rider
The policy documents of the Shriram Life Accident Benefit Rider are available online on the website of Shriram Life. You can visit www.shriramlife.com and go to the rider product page. On the page, you can download the brochure or policy document of the rider for your use. The online process is fast and convenient and gets you the necessary documents.
FAQs
Does the Accident Benefit Rider make sense?
The Accident Benefit Rider provides additional protection against accidental deaths and disablements at a very low premium amount. That is why they make complete sense.
What is the meaning of rider in life insurance?
A rider is an additional coverage feature that you can add to the base policy to enhance its scope of coverage. The rider is optional and comes at an additional cost.
What is the Accident Benefit rider?
The Accident Benefit rider is an added coverage against accidental deaths and disablements. The rider pays an additional lump sum benefit under accidental contingencies and can be added to the base plan.
Can I add the Accident Benefit rider after 5 years of buying the policy?
You can add the Accident Benefit rider after 5 years of buying the policy at any policy anniversary.